This article was written with help from Tim Collins, leading attorney in the ARM space. Nearly half of ACA member organizations are small-scale collection agencies. These offices run with small crews and service fewer accounts but must still focus on compliance management. How do small and mid-sized agencies do this without the resources of a large organization? It’s all about …
Compliance and Risk Management is the Secret to a Successful Debt Collection Agency
Share this ArticleSome companies think that revenue is the most important, and compliance is a cost. “Actually, if your compliance program is working, it should be saving you money,” says Laura Knights, Gulf Coast Collection Bureau. She recently discussed the important role compliance management plays in collection in a webinar on the future of compliance management. Hosted by Accounts Recovery, …
How To Use Social Media in Accounts Receivable
Share this ArticleBy now, social media has become part of almost everyone’s daily life. Even for businesses, it’s expected to have a presence on at least one platform. However, using social media is tricky for those in Accounts Receivable. Does your agency know how to use social media? Do you understand why it’s so important? Why Use Social Media In …
What the Lavallee Case Teaches Debt Collectors About Using Email Communications
Whether or not you are in the collection space, the recent decision in Lavallee v. Med-1 Solutions should catch the attention of everyone in Accounts Receivable. If you haven’t already read about the case, Joann Needleman, Practice Leader and Member of Clark Hill PLC, recently discussed What Lavallee means for the CFPB’s proposed rule and Electronic Communications. “Med-1, as debt …
How To Build a Website for Your Debt Collection Agency to Reach Every Audience
By now, every legitimate business should have a working website. Debt collection agencies are no exception. The objectives your debt collection agency website should achieve, however, are unique. Debt collection agencies have three main purposes: help consumers resolve their debts attract new clients to grow your business hire new staff members The challenge is understanding how to build a website …
10 Things to Consider When Redesigning Your Website
Share this ArticleIn the financial services industry, you need to be able to prove legitimacy and build trust with consumers and potential clients. The best way to do this is to build your web presence through a great company website. We spoke to the experts at Metric Marketing to learn what elements every business should consider when creating or redesigning …
Safe Harbors for Email and Text Messages Under the NPR
The CFPB Notice of Proposed Rulemaking (NPR) has been covered extensively in articles and webinars over the past few months. The prospect of using text and email messages is exciting for an industry that has been all but left out of using the latest technology. The question is, how will you use digital communication safely? Here are a few common …
How to Build Your Brand as a Debt Collection Agency
The strategies and payoffs of marketing are clear-cut for B2C operations, but how do you build your brand if your industry is more nuanced? When you answer to your clients but interact daily with their consumers, what messages should you send? Which audience should you appeal to? Answering these questions will help you form your brand identity, putting you on …
PDCflow Releases Enhanced Recurring Payment Feature
Ogden, Utah – Accounts receivable management software PDCflow has officially released the upgraded recurring payment feature of their new user interface. The enhanced recurring payment module will provide clients greater flexibility setting up consumer payment schedules. The improved recurring payment system was created after careful consideration of the schedule creation and maintenance needs for businesses. Dynamic schedule preview allows employees …
